Headquarters economy in Wuxi gains momentum

CRRC Env Sci and Tech Co Ltd, a central government-owned enterprise, decided to relocate its headquarters from Beijing to Xidong New City, or Wuxi East New City, in Xishan district, Wuxi, Jiangsu province, according to an online signing ceremony held on April 20.

The new headquarters will integrate the environmental protection industry of CRRC and work to attract more related emerging industries related to intelligent manufacturing, energy conservation and new energy to Wuxi.

It is also expected to lead to more companies in the environmental protection industry establishing their headquarters in Wuxi and help the city develop a headquarters economy revolving around low-carbon industry and become a hub for strategic emerging industries.

The Yangtze River Delta Intelligent Environmental Science Research Institute was also inaugurated at the signing ceremony.

Built by the Wuxi government and CRRC Env Sci and Tech Co Ltd, the institute will be developed into a national center for the development of environmental technological innovation and energy conservation technology.

The institute plans to bring in eight high-tech companies, including one unicorn company, and build one national innovation center within the next five years.

In addition, the two sides will cooperate in establishing an investment operation and management platform involving energy conservation and environmental protection, setting up a fund for the development of a low-carbon industry and building a CRRC low-carbon industrial park in Wuxi.

The operating revenue of CRRC in energy conservation and environmental protection is expected to exceed 10 billion yuan ($1.55 billion) by the end of 2025.